I’m aggressively anti-immersion all together no matter the scale. Expensive up front cost, maintenance is a nightmare, and you better hope that the ASIC or god forbid ASICs that you put in there operate completely fine for the rest of time.
Chip by chip hydro-cooling is expensive right now but I think that’s the more ergonomic response to this. Only at scale though for now. But the set up for that at the moment is extremely difficult to achieve unless you have hefty capital and time. I predict that we will see that become more feasible in the future.
For now, fan modifications and underclocking is the easiest. Hope this helps, happy to answer any other questions you may have.